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HomeMy WebLinkAboutORD 1991-134 1988-1992COUNTY OF HAWAII STATE OF HAWAII BILL NO. 516 (DRAFT 2) ORDINANCE NO. 91 13'_1 AN ORDINANCE AMENDING SECTION 25-96 (HAMAKUA DISTRICT ZONE MAP), ARTICLE 3, CHAPTER 25 (ZONING CODE) OF THE HAWAII COUNTY CODE, BY CHANGING THE DISTRICT CLASSIFICATION FROM AGRICULTURAL (A -40a) TO VILLAGE COMMERCIAL (CV -10); MULTIPLE FAMILY RESIDENTIAL (RM -5) AND (RM -10) AND TO AGRICULTURAL (A -la) AT KANAHONUA, WAIKOEKOE, KEAA, PUOPAHA, KALAKALAULA, HAMAKUA, HAWAII, COVERED BY TAX MAP KEY 4-8-01:PORTION OF 4 AND 4-8-06:43, 44 AND PORTIONS OF 1 AND 11. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Section 25-96, Article 3, Chapter 25 (Zoning Code) of the Hawaii County Code, is amended to change the district classification of property described hereinafter as follows: The district classification of the following area situated at Kalakalaula, Puopaha, Keaa, Waikoekoe and Kanahonua, Hamakua, Hawaii, shall be Agricultural (A -la): PARCEL A: Beginning at the South corner of this parcel of land along the Westerly side of Land Commission Award 7588-B Apana 2 to Kalaimamahu on the Northerly side of the Honokaa - Waipio Road 240A-01-67 at the Easterly top of the stream. The coordinates of said point of beginning referred to Government Survey Triangulation Station "Puu Mauu North" being 5,570.20 feet North and 5,645.76 feet East, thence running by azimuths measured clockwise from True South; 1. 1140 42' 30" 2. 24" 42' 30" 3. 115' 15' 10" 96.87 feet along the Northerly side or the Honokaa Waipio Road 240-01-67; 14.53 feet along same; 92.64 feet along same to the South corner of Lot 1 of Camp 106 subdivision; 4. 204" 43' 10" 147.05 feet along Lot 1 to its Easterly corner; 5. 114" 43' 10" 120.00 feet along the Northerly side of Lots 1 and 2; 6. 24' 43' 10" 145.93 feet along Lot 2 to the Westerly side of Highway: 7. 1150 15' 10" 40.00 feet along Highway to the Southerly corner of Lot 3; 8. 204' 43' 10" 145.56 feet along Lot 3; 9. 114" 43' 10" 360.00 feet along the Northerly side of Lots 3 through 8; 10. 24' 43' 10" 145.00 feet along Lot 8 to the Northerly side of Highway; 11. 114" 43' 10" 40.00 feet along the Northerly side of Highway to the South corner of Lot 9; 12. 204' 43' 10" 145.00 feet long Lot 9; 13. 114' 43' 10" 901.00 feet along the Northerly side of Lots 9 through 22; 14. 344' 22' 10" 111.99 feet along Lot 22; 15. 338" 08' 10" 53.00 feet along Lot 22; 16. 3280 16' 40" 42.00 feet along Lot 22 to the Northerly side of Highway; 17. 114" 43' 10" 652.37 feet along Northerly side of Highway to the Easterly side of Land Commission Award 8559-B apana 2; 18. 1130 57' 43" 366.78 feet along the Northerly side of the old Government Road to Waipio; - 2 - 19. 113' 23' 00" 418.74 feet along the same; 20. 116' 16' 00" 471.74 feet along the same; 21. 113° 45' 00" 74.49 feet along same to the South corner of TMK 4-8-06:15; 22. 203' 45' 00" 315.23 feet along the remainder of L.C. Aw. 8559-B apana 2; 23. 89" 43' 00" 452.02 feet along the remainder of L.C. Aw. 8559-B apana 2; 24. 179° 43' 00" 165.00 feet along the remainder of L.C. Aw. 8559-B apana 2 to the Southerly side of L.C. Aw. 1294 Ap. 1; 25. 89° 43' 00" 102.00 feet along L.C. Aw. 1294 Ap. 1 to its Westerly corner; 26. 200° 43' 00" 161.91 feet along L.C. Aw. 1294 Ap. 1; 27. 890 43' 00" 473.12 feet along the remainder of L.C. Aw. 8559-B apana 2; 28. 180' 30' 00" 410.63 feet along the same; 29. 66" 15' 00" 219.35 feet along the same to the Easterly side of L.C. Aw. 11216 Ap. 50; 30. 85' 00' 00" 190.50 feet along the Northerly side of the cemetery lot: 31. 40 00' 00" 266.84 feet along the Westerly side of the cemetery lot; 32. 900 41' 00" 877.93 feet along the remainder of L.C. Aw. 11216 Ap. 50; 33. 6" 59' 00" 164.15 feet along same to the Easterly corner of school Grant 14 Apana 5; - 3 - 34. 95' 35' 00" 35. 76° 19' 30" 36. 352" 02' 00" 37. 78" 51' 30" 38. 1910 55' 00" 39. 180° 57' 30" 40. 101' 32' 30" 41. 1750 05' 00" 42. 1930 00' 00" 43. 260' 41' 00" 44. 2100 55' 00" 45. 234' 31' 00" 46. 2490 56' 00" 47. 256° 04' 00" 48. 354" 30' 28" 49. 278' 10' 28" 222.00 feet along school Grant; 388.97 feet along Parcel "C"; 174.15 feet along Parcel "C" to the Northerly side of the old Government Road to Waipio; 217.70 feet along the Northerly side of the Old Government Road to Waipio; 168.22 feet along the Westerly side of the 30.00 foot wide pipeline and access road easement; 103.45 feet along the same; 112.40 feet along the same; 364.30 feet along the same; 275.47 feet along the same to the top of the cliff; 68.03 feet along the same; 125.52 feet along the same; 107.04 feet along the same; 75.97 feet along the same; 162.26 feet along the same to the Westerly side of L.C. Aw. 7131 to Kaai; 517.30 feet along the Westerly side of L.C. Aw. 7331; 434.24 feet along the Southerly side of L.C. Aw. 7331; - 4 - 50. 187' 25' 28" 823.47 feet along the Easterly side of L.C. Aw. 7331 to the Southerly side of L.C. Aw. 7874 to Wailuahi; 51. 2840 25' 28" 188.76 feet along the Southerly side of L.C. Aw. 7874; 52. 1930 25' 28" 251.83 feet along the Easterly side of L.C. Aw. 7874; 53. 184' 25' 28" 290.06 feet along the same to the top of Cliff; 54. 251' 31' 00" 88.34 feet along the top of Cliff; 55. 229' 32' 00" 73.87 feet; 56. 216" 08' 00" 224.37 feet; 57. 236' 40' 00" 152.99 feet; 58. 2360 22' 00" 127.23 feet; 59. 2430 58' 00" 165.71 feet; 60. 2560 36' 07" 380.05 feet; 61. 2590 46' 33" 80.83 feet; 62. 2350 48' 06" 329.81 feet; 63. 241" 10' 30" 250.48 feet; 64. 264' 13' 21" 373.04 feet; 65. 271" 57' 15" 270.47 feet; 66. 251" 59' 20" 259.64 feet; 67. 219' 51' 50" 214.62 feet; 68. 287' 39' 55" 360.14 feet; 69. 247' 31' 16" 1,028.50 feet; �1= 70. 269' 36' 00" 2,648.95 feet to the Westerly side of L.C. Aw. 7588-B Ap. 2; 71. 9° 39' 11" 829.09 feet along the Westerly side of L.C. Aw. 7588-B A. 2; 72. 280 09' 11" 382.00 feet along the same; 73. 310 09' 11" 540.00 feet along the same; 74. 80 39' 11" 695.00 feet along the same; 75. 6' 39' 11" 220.00 feet along the same; 76. 3580 07' ill. 118.80 feet along the same; 77. 7° 07' 11" 244.20 feet along the same; 78. 310 37' 11" 153.12 feet along the same; 79. 29' 07' 11" 165.00 feet along the same; 80. 27" 37' 11" 87.12 feet along the same; 81. 220 52' 11" 171.60 feet along the same; 82. 20' 37' 11" 133.32 feet along the same; 83. 316" 07' 11" 79.20 feet along the same; 84. 310 07' 11" 118.80 feet along the same; 85. 750 07' 11" 48.01 feet along the same to the Easterly top of the stream; 86. 180 39' 11" 906.04 feet along the Easterly top of stream; 87. 320 34' 00" 550.36 feet along the Easterly top of the stream to the point of beginning and containing a gross area of 497.208 acres and a net - 6 - area of 439.808 acres after excluding parcels "C", "D", "E" and "F". (Refer to Parcel "A" as shown on Exhibit "A".) Excluding also a 0.40 acre parcel owned by the United States of America for a lighthouse and more particularly described as follows: LIGHTHOUSE PARCEL: Beginning at the Westerly corner of this parcel of land, the coordinates of said point of beginning referred to Government Survey Triangulation Station "Kukui" being 48.41 feet North and 466.49 feet East, thence running by azimuths measured clockwise from True South; 1. 228' 25' 40" 105.85 feet along the remainder of Grant 1772; 2. 2740 22' 00" 72.10 feet along the same; 3. 3410 12' 40" 79.40 feet along the same; 4. 56' 40' 00" 153.80 feet along the same; 5. 150° 57' 00" 105.70 feet along the same to the point of beginning and containing an area of 0.40 acre. The district classification of the following area situated at Kanahonua and Waikoekoe, Hamakua, Hawaii, shall be Agricultural (A -la): PARCEL "B": - 7 - Beginning at the Northwest corner of this parcel of land along the Southerly side of the Old Government Main Road to Waipio and the Easterly side of Mud Lane. The coordinate of said point of beginning referred to Government Survey Triangulation Station "Puu Mauu North" being 7,181.45 feet North and 440.69 feet West, thence running by azimuths measured clockwise from True South; 1. 2580 51' 30" 537.09 feet along the Southerly side of the Old Government Main Road to Waipio to the Northerly corner of the West Hamakua Church lot; 2. 3' 30' 00" 142.28 feet along the Westerly side of the West Hamakua Church lot: 3. 273" 30' 00" 210.73 feet along the remainder of L.C. Aw. 11216:50; 4. 279' 40' 00" 220.06 feet along the same; 5. 11' 23' 00" 503.63 feet along the remainder of L.C. Aw. 11216:50; 6. 274' 34' 30" 875.84 feet along the same to the Westerly side of L.C. Aw. 8559-B:2; 7. 1970 30' 00" 101.28 feet along the Westerly side of L.C. Aw. 8559-B:2; 8. 193' 00' 00" 530.00 feet along the same; 9. 1800 30' 00" 131.70 feet along the same to the Southerly side of the Old Government Main Road to Waipio; 10. 264' 40' 00" 121.65 feet along the Southerly side of the Old Government Main Road to Waipio: 11. 278' 03' 00" 248.01 feet along the same; 12. 292° 48' 00" 66.29 feet along the same to the Westerly side of L.C. Aw. 7877:2; 13. 50 00' 00" 732.97 feet along the Westerly side of L.C. Aw. 7877:2; 14. 2750 30' 00" 526.03 feet along the Southerly side of L.C. Aw. 7877:2; 15. 1800 30' 00" 585.22 feet along the Easterly side of L.C. Aw. 7877:2 to the Southerly side of the Old Government Main Road to Waipio; 16. 2920 48' 00" 41.44 feet along the Southerly side of the Old Government Main Road to Waipio; 17. 2930 45' 00" 67.33 feet along the same; 18. 23' 23' 00" 125.20 feet along the remainder of L.C. Aw. 8559:B:2; 19. 2930 45' 00" 65.00 feet along the same; 20. 296' 16' 00" 513.00 feet along the same; 21. 2930 23' 00" 420.00 feet along the same: 22. 230 23' 00" 14.52 feet along the same to the Northerly side of the Honokaa-Waipio Road 24A-01-71; 23. Along a curve to the left with a radius of 2638.77 feet the chord azimuth and distance being: 900 49' 50" 207.70 feet; 24. 88' 34' 30" 337.32 feet along the Northerly side of the Honokaa-Waipio Road 240A-01-71; 25. 1780 34' 30" 10.00 feet along the same; 26. 88' 34' 30" 330.00 feet along the same; 27. 178' 34' 30" 10.00 feet along the same: 28. 880 34' 30" 300.00 feet along the same; 29. 178" 34' 30" 20.00 feet along the same; 30. 880 34' 30" 330.00 feet along the same: 31. 3580 34' 30" 40.00 feet along the same; 32. 880 34' 30" 70.00 feet along the same; 33. 178' 34' 30" 30.00 feet along the same: 34. 880 34' 30" 100.00 feet along the same; 35. 3580 34' 30" 20.00 feet along the same; 36. 880 34' 30" 357.11 feet along the same: 37. 880 34' 30" 142.88 feet along the same: 38. 178' 34' 30" 10.00 feet along the same; 39. 88" 34' 30" 450.00 feet along the same; 40. 3580 34' 30" 10.00 feet along the same: 41. 880 34' 30" 250.00 feet along the same; 42. 178" 34' 30" 10.00 feet along the same; 43. 88" 34' 30" 200.00 feet along the same: 44. 3580 34' 30" 10.00 feet along the same; 45. 88" 34' 30" 738.20 feet along the same; 46. 1820 30' 00" 160.00 feet along the same: 47. 92' 30' 00" 15.00 feet along the same; 48. 182' 30' 00" 3.71 feet along the Easterly side of Mud Land: - 10 - 49. 2770 05' 00" 268.06 feet along the Southerly side of Exec. Ord. 676; 50. 1870 05' 00" 325.00 feet along the Easterly side of Exec. Ord. 676; 51. 97° 05' 00" 261.75 feet along the Northerly side of Exec. Ord. 676; 52. 1900 27' 19" 341.41 feet along the Easterly side of Mud Lane to the point of beginning and containing an area of 33.692 acres. (Refer to Parcel "B" as shown on Exhibit "A".) The district classification of the following area situated at Waikoekoe and Keaa, Hamakua, Hawaii, shall be Multiple Family Residential (RM -5): PARCEL "C": Beginning at the South corner of this parcel of land. The coordinates of said point of beginning referred to Government Survey Triangulation Station "Puu Mauu North" being 7,190.88 feet North and 3,478.26 feet East, thence running by azimuths measured clockwise from True South; 1. 127' 49' 00" 182.32 feet along the remainder of Land Commission Award 8559-B Apana 2; 2. Along a curve to the right along the remainder of L.C. Aw. 8559-B Ap. 2 with a radius of 420.00 feet, the chord azimuth and distance being: 172' 36' 00" 591.72 feet; 3. 2170 23' 00" 54.70 feet along the remainder of L.C. Aw. 8559-B Ap. 2; 4. Along a curve to the right with a radius of 630.00 feet the chord azimuth and distance being: 2499 51' 30" 676.53 feet; 5. 2820 20' 00" 553.96 feet along the remainder of Grant 1772 and L.C. Aw. 8559-B Ap. 2; 6. 352° 00' 00" 95.00 feet along the remainder of Grant 1772; 7. 12" 00' 00" 195.00 feet along the remainder of Grant 1772 and L.C. Aw. 8559-B Ap. 2; B. 86" 10' 00" 695.07 feet along the remainder Of L.C. Aw. 8559-B Ap. 2; 9. 270 04' 00" 590.01 feet along the remainder of L.C. Aw. 8559-B Ap. 2 to the point of beginning and containing an area of 15.000 acres. (Refer to Parcel "C" as shown on Exhibit "A".) The district classification of the following area situated at Waikoekoe and Keaa, Hamakua, Hawaii, shall be Village Commercial (CV -10): PARCEL "D": Beginning at the South corner of this parcel of land. The coordinates of said point of beginning referred to Government Survey Triangulation Station "Puu Mauu North" being 8,055.03 feet North and 3,200.82 feet East, thence running by azimuths measured clockwise from True South; 1. 101° 37' 00" 123.00 feet along the remainder of Land Commission Award 8559-B Apana 2; - 12 - 2. 179° 45' 00" 269.00 feet along the same: 3. 1930 52' 00" 414.76 feet along the same: 4. 2800 45' 00" 1,077.43 feet along the remainder of L.C. Aw. 8559-B Ap. 2; 5. 319° 40' 00" 309.3.9 feet along the remainder of Grant 1772; 6. 12' 20' 00" 144.51 feet along the remainder of Grant 1772; 7. 1020 20' 00" 570.77 feet along the remainder of Grant 1772 and L.C. Aw. 8559-B Ap. 2; 8. Along a curve to the left with a radius of 640.00 feet the chord azimuth and distance being: 690 39' 00" 691.19 feet to the point of beginning and containing an area of 12.000 acres. (Refer to Parcel "D" as shown on Exhibit "A".) The district classification of the following area situated at Waikoekoe and Keaa, Hamakua, Hawaii, shall be Multiple Family Residential (RM -10): PARCEL "E": Beginning at the Northeast corner of this parcel of land along the top of the cliff. The coordinates of said point of beginning referred to Government Survey Triangulation Station "Puu Mauu North" being 10,562.68 feet North and 4,705.44 feet East, thence running by azimuths measured clockwise from True South; 1. 3120 09' 00" 107.14 feet along the remainder of Grant 1772; - 13 - 2. 346' 53' 00" 174.00 feet along the remainder of Grant 1772; 3. 25° 46' 00" 340.00 feet along the remainder of Grant 1772; 4. 3' 10' 00" 395.19 feet along the remainder of Grant 1772; 5. Along a curve to the right with a radius of 225.00 feet, the direct chord azimuth and distance being: 830 51' 30" 444.07 feet; 6. 164° 33' 00" 218.69 feet along the remainder of Grant 1772; 7. Along a curve to the left with a radius of 200.00 feet, the direct chord azimuth and distance being: 1240 58' 00" 254.88 feet; 8. 85° 23' 00" 116.22 feet along the remainder of L.C. Aw. 8559-B Ap. 2; 9. 1630 12' 00" 260.00 feet along the same to the top of the cliff; 10. Along the top of the cliff in all its winding to the point of beginning, the direct azimuth and distance being: 247' 31' 16" 1,028.50 feet; and containing an area of 15.000 acres. (Refer to Parcel "E" as shown on Exhibit "A".) The district classification of the following area situated at Waikoekoe, Hamakua, Hawaii, shall be Village Commercial (CV -10): PARCEL "F": - 14 - Beginning at the Northeast corner of this parcel of land along the top of the cliff, the coordinates of said point of beginning referred to Government Survey Triangulation Station "Puu Mauu North" being 10,113.99 feet North and 3,274.37 feet East, thence running by azimuths measured clockwise from True South; 1. 3530 00' 00" 272.23 feet along the remainder of L.C. Aw. 8559-B Ap. 2; 2. 170 00' 00" 549.38 feet along the same: 3. 1020 00' 00" 630.44 feet along the same; 4. 1640 00' 00" 284.49 feet along the same; 5. 840 00' 00" 100.03 feet along the same: 6. 46' 42' 00" 190.16 feet along the same; 7. 92' 37' 00" 270.46 feet along the same; 8. 154' 29' 00" 116.13 feet along the same to the top of the cliff; 9. 2350 48' 06" 329.81 feet along the same; 10. 2410 10' 30" 250.48 feet along the same: 11. 2640 13' 21" 373.04 feet along the same; 12. 2710 57' 15" 270.47 feet along the same; 13. 2510 59' 20" 259.64 feet along the same to the point of beginning and containing an area of 15.000 acres. (Refer to Parcel "F" as shown on Exhibit "A".) - 15 - All as shown on the map attached hereto, marked Exhibit "A" and by reference made a part hereof. SECTION 2. These change in district classification are conditioned upon the following: (A) the applicant, successors or assigns shall be responsible for complying with all of the stated conditions of approval and other agreements as contained in Exhibit B; (B) the effective date of the rezoning shall be (1) when the applicant provides assurance satisfactory to the Departments of Water Supply and Planning, upon consultation with the State Department of Health and the Department of Land and Natural Resources that a water source(s) of sufficient quality and quantity has (have) been established within two years from the date of mayoral signature; provided that a maximum one-year extension may be granted by the Planning Director with reasonable and sufficient justification; and (2) an agreement, together with the appropriate bond, surety or other security deemed acceptable by the Planning Director, is executed between the applicant and the County through its Departments of Water Supply and Planning for the actual development of a proven source and its water transmission and distribution system within one year from the official date of compliance with Condition B(1); provided that a one-year - 16 - extension may be granted by the Planning Director with reasonable and sufficient justification; (C) plans for agricultural subdivision, plan approval review of the condominiums and hotel and golf course development, shall be submitted to the Planning Department within eighteen months from the effective date of the change of zone ordinance. Tentative or preliminary approvals shall be secured within one year thereafter. Final subdivision approval or plan approval of the various project components shall be secured within one year thereafter; (D) the connecting road ("Mud Lane Road" extension) from Highway 240 to the Hawaii Belt Road shall be constructed meeting with the approval of the Department of Public Works. The "Mud Lane Road" extension shall be constructed in its entirety prior to issuance of a certificate of occupancy for any portion of the development, opening of any golf course or in conjunction with final subdivision approval of any portion of the development, whichever comes first; (E) intersection improvements, which may include traffic signals and channelization, shall be provided at the new Mud Lane Road -Hawaii Belt Road intersection and the new Mud Lane Road -Highway 240 intersection as required by the Department of Transportation and the Department of Public Works; (F) A new primary access shall be constructed to the Hamakua Makai area M&M between Kona Camp and the existing access to Kukuihaele in conjunction with any development occurring on the Hamakua Makai area. Additionally, a new by-pass intersection to the west (Waipio side) of Tiger Camp and a new access road (cul-de-sac) to the end of Tiger Camp shall be constructed in conjunction with any development occuring on the Hamakua [Mauka or] Makai areas. The new primary access, the new Kukuihaele by-pass intersection. and improvements to the existing Kukuihaele Road (i.e. pavement widening and bike oath/pedestrian walkway) through the Village shall be reviewed and approved by the Department of Public Works in consultation with the Plannino Department. and completed prior to issuance of any certificate of occupancy, final subdivision approval or opening of the golf course, whichever occurs first; (G) an internal traffic circulation plan of the project area (Hamakua Makai) shall be submitted for review and approval by the Department of Public Works prior to submitting plans for plan approval, subdivision or grading. The internal traffic circulation plan, shall indicate the conceptual roadway network to and through the various development areas. To minimize potential traffic impacts to the existing Kukuihaele Road, all interior roadways shall access from the primary access road; (H) an historic preservation mitigation plan of each development area shall be - 18 - prepared and submitted for approval by the Planning Department, in consultation with the Department of Land and Natural Resources, prior to submitting plans for preliminary subdivision, plan approval review, or grading, whichever comes first. The plan shall consist of an archaeological data recovery plan and a preservation plan. Approved mitigation measures shall be implemented prior to or in conjunction with any land alterations in the respective development areas; (I) should any unidentified sites or remains such as artifacts, shell, bone, or charcoal deposits, human burials, rock or coral alignments, pavings or walks be encountered, work in the immediate area shall cease and the Planning Department shall be immediately notified. Subsequent work shall proceed upon an archaeological clearance from the Planning Department when it finds that sufficient mitigative measures have been taken; (J) to ensure that the Goals and Policies of the Housing Element of the General Plan are implemented, the applicant shall work with the Office of Housing and Community Development and the Planning Department to formulate a housing plan for the development, which shall be consistent with the interim affordable housing policy of the County as contained in the Hawaii County Housing Agency Resolution No. 65. This housing plan which shall include escrow instructions for employee - 19 - housina, shall be approved by the County Housing Agency prior to final subdivision or plan approval of any portion of the village commercial or multiple -family residential zoned area; provided that the applicant shall notify the County Housing Agency of any intent to sell, lease, assign, place in trust, or otherwise voluntarily alter the ownership interest in the property prior to visible commencement of construction on the property; provided further that the applicant may transfer ownership in the property to an affiliate or in a manner consistent with prior representations to the County Housing Agency; (K) as agreed to by the applicant, restrictive covenants in the deeds of all agricultural zoned lots shall prohibit the construction of ohana dwelling units. A copy of the proposed covenant(s) shall be submitted to the Planning Department for review and approval prior to final subdivision approval of each agricultural subdivision. Written assurance for implementation of this condition, which has met with the approval of the Planning Department, shall be submitted to the Planning Department prior to final subdivision approval of each agricultural subdivision. A copy of a typically recorded covenant shall be filed with the Planning Department within one year from the date of final subdivision approval of each agricultural subdivision; (L) it shall be demonstrated to the - 20 - satisfaction of the Planning Department that agricultural activity is being conducted on the subdivided agricultural -zoned zoned lots within three years from the date of final subdivision approval. For the purpose of this condition, "agriculture" shall be defined as the cultivation of crops, including but not limited to flowers, vegetables, foliage, fruits, forage and timber; game propagation; raising of livestock, including but not limited to poultry, bees, fish or other animal or aquatic life that are propagated for economic or personal use. This condition shall be incorporated in each of the deeds for the proposed agricultural -zoned lots and duly recorded with the State Bureau of Conveyances. A copy of the recorded deeds shall be filed with the Planning Department within one year from the date of final subdivision approval of the agricultural -zoned lots; (M) the applicant shall work with the State Department of Education and the Planning Department to provide its pro rata share for school facilities. The pro rata share determination and its implementation (i.e. dedication of land, construction of classrooms or funding) shall be approved by the Planning Department, in consultation with the Department of Education, prior to final subdivision approval of any portion of the multiple -family residential or agricultural development; - 21 - provided that compliance with this condition may be satisfied through compliance with the same condition in the Hamakua Mauka change of zone ordinance; (N) prior to development or land alterations of any portion of the [Hamakua Mauka or] Hamakua Makai areas, a comprehensive drainage study shall be conducted to determine the type of drainage improvements that would be required given the topography of the area; the stream and gulches which cross -cut the property; the geological composition of the area; and the amount of water to be generated by the proposed development. The study shall be reviewed and approved by the Department of Public works and approved recommendations implemented as the development proceeds. Accordingly, a drainage system shall be installed meeting with the requirements of the Department of Public Works; (0) the applicant shall [set aside] provide a maximum of 6 acres of land for fire/police station expansion, or as otherwise agreed upon by the Fire and Police Chiefs and the Planning Director. The land area, its location and timing of dedication, shall be approved prior to submitting plans for subdivision or plan approval review of any portion of the development; provided that compliance with this condition may be satisfied through compliance with the same condition in the Hamakua Mauka change of zone ordinance; (P) the applicant shall - 22 - provide an additional transfer station and necessary improvements meeting with the approval of the Department of Public Works. The transfer station and required improvements shall be provided prior to issuance of a certificate of occupancy, establishment of the golf course or final subdivision approval for any portion of the development; provided that compliance with this condition may be satisfied through compliance with the same condition in the Hamakua Mauka change of zone ordinance; (Q) the applicant shall [identify] provide a minimum of 6.1 -acres of land for park and recreational use to be incorporated with the existing county park site; provided that compliance with this condition may be satisfied through compliance with the same condition in the Hamakua Mauka change of zone ordinance. The land area, configuration, and type of improvements shall meet with the approval of the Departments of Parks and Recreation and Planning prior to submitting plans for subdivision or plan approval review. The park site development shall be completed prior to occupancy of any units of the development. The construction of a community center shall be included in the improvements to be provided on the park site. The phasing of park site development shall also meet with the approval of the Departments of Parks and Recreation and Planning - 23 - Until such time that the park is dedicated to and accepted by the County, there shall be adequate assurance, as determined by the Corporation Counsel, for the maintenance of the private park by recorded covenant running with the land which shall include the following: (1) obligate the subdividers to maintain the private park in perpetuity; and (2) empower the County, through the Department of Parks and Recreation, to enforce the covenants to maintain the private park, authorizing the performance of maintenance work by the County in the event of failure by the subdividers, purchasers, occupants, or association in the subdivision to perform such work and permit the subjecting of the land and properties in the subdivision to a lien until the cost of the work performed by the County has been reimbursed; (R) a minimum 300-foot wide buffer consisting of a minimum of 350 acres shall be set aside on the Waipio Valley rim to serve as a preservation buffer for Waipio Valley. The buffer shall be described as a perpetual easement for the purpose of protecting the land in its natural, scenic, and open-space condition and shall be maintained in perpetuity by the applicant, successors or assigns. The terms and conditions of the easement shall include Provisions for the applicant's Participation in a reforestation Program wilderness trail system, and related improvements which shall �Z.M be reviewed and approved by the Planning Department, in consultation with the Department of Land and Natural Resources, prior to any final subdivision approval or final plan approval or land alterations of the Hamakua Mauka and Makai areas; (S) a new lookout, parking and related improvements shall be [provided in conjunction with any development occurring on the Hamakua Mauka or Makai areas] completed prior to occupancy of any units of the development. These improvements, its location and design, shall be approved by the Planning Department prior to submitting plans for subdivision, plan approval or grading of the project areas; (T) an interpretive cultural center shall be provided within the [Kukuihaele Special Treatment] development area and shall be completed prior to occupancy of any units of the development. The interpretive cultural center, its location, improvements (with possible phasing thereof) and management shall be approved by the Planning Department prior to submitting plans for subdivision, plan approval or grading of the project areas: provided that compliance with this condition may be satisfied through compliance with the same condition in the Hamakua Mauka change of zone ordinance; (U) a job training program for the operating phase of the hotel shall be developed and submitted to the Planning Department for review and approval prior to receipt of - 25 - Final Plan Approval for the hotel development. The on-going training program shall continue and will provide for an upgrading of skills and opportunities; (V) [a regional infrastructural improvement program (RIIP) shall be formulated by the applicant and submitted for review and approval by the Planning Department, in consultation with appropriate affected agencies, prior to submittal of plans for any subdivision or plan approval review of any area of development. The RIIP shall include (1) the identification of existing regional off-site infrastructure, including but not limited to fire, police, emergency medical, health, education, wastewater, solid waste, and park facilities/services, and roads and highways; (2) identification of projected regional infrastructural improvements based upon current available information, plans and respective agency data; (3) estimated impact of project on regional infrastructure utilizing methodology and figures acceptable to the Planning Department; and (4) implementation program for alleviating regional public facility and public service impacts. Conditions within this ordinance which require infrastructural improvements may fully or partially satisfy the regional infrastructural improvement program, if determined by the Planning Department, in consultation with the affected agency(ies), to meet projected regional demands; - 26 - (W) ]comply with all other applicable laws, rules, regulations and requirements; ([X]Pkl) should the council adopt a Unified Impact Fees ordinance setting forth criteria for the imposition of exactions or the assessment of impact fees, conditions included herein may, at the developer's election, be satisfied by performance in accordance with the requirements of the Unified Impact Fees ordinance; ([Y]X) an annual progress report shall be submitted to the Planning Department prior to the anniversary date of the approval of this change of zone. The report shall address in detail the status of the development of each area (including number of lots created, number of units constructed) and the compliance with the conditions of approval. This condition shall remain in effect until all of the conditions of approval have been complied with and the Planning Department acknowledges that further reports are not required; and, ([Z]Y) an extension of time for the performance of conditions set forth in this ordinance may be granted by the Planning Director upon the following circumstances: 1) the non-performance is the result of conditions that could not have been foreseen or are beyond the control of the applicant, successors or assigns, and that are not the result of their fault or negligence; 2) granting of the time extension would not be contrary to the general plan or zoning code; 3) granting - 27 - of the time extension would not be contrary to the original reasons for the granting of the change of zone; 4) the time extension granted shall be for a period not to exceed the period originally granted for performance (i.e., a condition to be performed within one year may be extended for up to one additional year); and 5) if the applicant should require an additional extension of time, the Planning Director shall submit the applicant's request to the County Council for appropriate action. Further, should any of the conditions of the respective development areas not be met or substantially complied with in a timely fashion, the Director shall initiate rezoning of the applicable area to its original or more appropriate designation. SECTION 3. In the event that any portion of the ordinance is declared invalid, such invalidity shall not affect the other parts of this ordinance. SECTION 4. This ordinance shall take effect upon its approval. INTRODUCED BY: COU! IL MEPBE COUN OF HAWAII Hilo, Hawaii Date of Introduction: November 20, 1991 Date of lst Reading: November 20, 1991 Date of 2nd Reading: December 10, 1991 Effective Date: December 26, 1991 - 28 - RUSSELL S. KOKUBUN Cha=an k Presiding Officer MERLE K. LAI Vice -Chas woman OK"o r` COUNTY COUNCIL County of Hawaii Hawaii County Building 25Aupuni Shut Hilo, Hawaii 96720 )AMPS Y. ARAKAKI BRIAN I. DE LIMA TAKASHI DOMINGO HELENE H. HALE ROBERT H. MAKUAKANE HARRY S. RUDDLE SPENCER K. SCHL= On Bill No. 516, Draft 2 , Ordinance No. 91-134 , reference is made to a map attached hereto, marked Exhibit " A" Said Exhibit is not part of the duplicate copies of this ordinance, due to its size, but is available for viewing in the Office of the County Clerk. If further information is needed, call 961-8255. l/1 • V jrJeohn A. WagnerrCOUNTY CLERK EXHIBIT "B" AGREEMENT AGREEMENT, made this day of 1991, by and among HAMAKUA SUGAR COMPANY, INC. ("Hamakua") and WESTERN FARM CREDIT BANK ("WFCB"). W I T N E S S E T H: WHEREAS, Hamakua is facing impending foreclosure by the Western Farm Credit Bank (WFCB); and WHEREAS, if Hamakua is unable to most its obligations, it faces inevitable foreclosure and cessation of sugar growing operations; and WHEREAS, the closure of Hamakua would result in the loss of approximately 750 plantation jobs and 450 plantation supported housing units; and WHEREAS, the County of Hawaii recognizes that the loss of Hamakua would significantly impact the County's economy, especially in the Hamakua area; and WHEREAS, Hamakua wishes to rezone approximately 3,827 acres of plantation land in the vicinity of Kukuihaele to develop a resort complex and residential community; and WHEREAS, if Hamakua's land sales recovery program is successful in retiring the present debt that the company will be a financially viable enterprise for the foreseeable future; and WHEREAS, the County would like to assist Hamakua with its plans for development, but has concerns about the future impacts upon the Kukuihaele community and its residents; and WHEREAS, the County has similar concerns about the uncertain housing future for Hamakua's employees; and WHEREAS, Hamakua on behalf of its successors and/or assigns is willing to provide certain community benefits to lessen the impacts that development may have upon the Kukuihaele area; and WHEREAS, Hamakua has agreed to certain employee housing programs to ensure that employee housing is perpetuated in the unlikely event that Hamakua closes its operations, goes into bankruptcy, or is foreclosed upon; NOW, THEREFORE, upon receipt of rezoning for the Kukuihaele land use plan, Hamakua and WFCB hereby agree to perform and commit to the following: 1. Hamakua, either solely or in conjunction with its designated successors or assigns, agrees to implement the list of regional and community benefits contained in the "Kukuihaele Land Use Public Benefits Proposal" (October, 1991) and appended hereto as Appendix 1. 2. Hamakua, either solely or in conjunction with its designated successors or assigns, agrees to facilitate an ongoing working relationship with the Kukuihaele community in the implementation of community wide benefits (i.e. park site, interpretive cultural center, community center) for Kukuihaele through the Hamakua District Development Council (HDOC). 3. Hamakua, either solely or in conjunction with its designated successors or assigns, agrees to establish a Real Property Tax Trust Fund for the residents of Kukuihaele to provide additional tax relief beyond what is available in the existing real property tax system. A draft of the proposed fund is appended hereto as Appendix 2. 4. Hamakua agrees to those employee housing provisions appended hereto as Appendix 3. In the event that any provision of this agreement is declared unconstitutional, or the applicability thereof to any person or circumstance is held invalid, the constitutionality or the validity of the remainder of this agreement shall not be affected. IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day and year first above written. HAMAKUA SUGAR COMPANY, INC. By Yo Its President 6 C.E.O. WESTERN FARM CREDIT BANK By Its NOW, THEREFORE, upon receipt of rezoning for the Kukuihaele land wee plant Hamakua and WKS hereby agroe to perform and commit to the following: 1. Hamakua, either solely or in oon,)unction with its designated successors or assign&, agrees to implement the list of regional and community benefits contained in the "Kukuihaele Land Use Public Benefits Proposal" (October, 1901) and appended hereto as Appendix 1. to Hamakua, either solely or in conjunction with its designated successors or assigns, agrees to facilitate an ongoing working relationship with the Kukuihaele community in the implementation of community wide benefits (i.e. park site, interpretive cultural center, community center) for Kukufhaele through the Hamakua District Development Council (NDDC). 9. Hamakua, either solely or in conjunction with its designated successors or assigns, agrees to establish a Real Property Tax Trust Fund for the residents of Kukuihaele to provide additional tax relief beyond what is available in the existing real property tax system. A draft of the proposed fund is appended hereto as Appsndix t. 4. Hamakua agrees to those employee housing provisions appended hereto as Appendix i. In the event that any provision of this agreement is declared unconstitutional, or the applicability thereof to any person or circumstance Is held invalid, the constitutionality or the validity f of the remainder of this agreement *hall not be affected. IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day and year first above written. MAMAKUA SUGAR COMPANY, INC. Br Its President a C -S-0. WESTE H CREDIT DANK aa*4d WvDns vrlmowoH e:Z::LI ZU'd 16-9 -03a APPENDIX I KUAUIHAELE LAND USE PUBLIC BENEFITS PROPOSAL HAK,IHUA SUGAR COMPANY, INC. P. O. Boz 250 Paauilo, Hawaii 96776 October 1991 RURUIHAELE LAND USE PUBLIC BENEFITS PROPOSAL Hamakua Sugar Company, Inc. ("HSC") cultivates approximately 35,000 acres of sugar lands on the Island of Hawaii. The plantation itself is only 3-1/2' miles wide, but extends for almost 34 miles along the rugged Hamakua coast. It is the State's second largest producer of sugar, and based on gross receipts, is the 81st largest farming concern in America. Since 1984, the company has diversified its business interests and modernized operations. In 1986 Hamakua started an integrated beef operation, Big Island Meat, which raises both pasture and grain fed cattle in the Big Island's only feedlot before processing them through its slaughterhouse and fabrication plant. In addition to Big Island Meat, HSC operates a small manufacturing and marketing business for a line of cane syrup products. HSC is also a member and part owner of California and Hawaii Sugar Company (C&H), the world renowned refining and marketing cooperative. Hamakua also generates approximately 11.81 of the island's electrical needs through the burning of bagasse, a sugar crop by-product. The company generates gross sales of over $60 million annually, which computes to over $180 million in economic activity to the state per year. Hamakua Sugar Company took out loans in excess of $65 million when the plantation was purchased from Theo. H. Davies in 1984. As of October 1, 1991, the principal and interest on these loans had reached about $95 million, and combined with other creditors, and capital gains taxes, the overall obligation totals over $130 million. If the company was forced to liquidate its remaining properties, the plantation would ultimately be terminated. The probable impacts of such an action would includer + Loss of approximately 750 plantation employee jobs; + A loss of approximately 1,700 indirectly related jobs throughout the community and the State; + Loss of approximately 450 plantation supported housing units; * Loss of yearly plantation revenue to the County of approximately $60 million; * Potential cost to the State of as much as $9.9 million in unemployment benefits; + A major loss of energy produced through bagasse, a renewable resource; + Loss of Hamakua's export earnings which helps to diversify and stimulate Hawaii's economy; and + The release of vast areas of former sugar lands without benefit of a long range regional land use plan that is consistent with the best interests of the Hamakua community, the County of Hawaii, and the State. 2 In June, 1990, Governor John Waihee convened a Hamakua Steering Committee comprised of representatives from the County of Hawaii, the State Administration, Hamakua Sugar Company and its major creditors, and the International Longshoreman Workers Union (ILWU). The purpose of this steering committee was to provide a long-range planning guide for the partial sale of Hamakua Sugar Company lands by the creditors imposed deadline of December, 1991. The Hamakua Steering Committee's primary objectives were to: 1. Build consensus among the various governmental, creditor, labor union, and community interests regarding the planned use of lands to be sold. 2. Maintain the viability of the Hamakua Sugar Company by helping to retain approximately 25,000 acres of core plantation lands in the Honokaa area. 3. Retain as much Hamakua Sugar Company lands as possible in the Agriculture and/or Conservation District. 4. Retain as much Hamakua Sugar Company lands as possible in the lower density classification of the Hawaii County Zoning Code. For planning purposes, three planning zones were identified in the regional plans Zone 1 (Laupahoehoe-Ookala); Zone 2 (Paauilo-Honokaa), and Zone 3 (Kukuihaele-Waipio). In general, the regional plan calls for the expansion of diversified agriculture in Zone 1, the retention of about 3 25,000 acres of core plantation lands in Zone 2, and a new master planned community development in Zone 3. When the Hamakua Regional Plan was completed in November, 1990, several specific exactions were contained therein: Prior to or in conjunction with any sale, assignment, or title transfer of property identified by Tax Map Keys 4-8-03:06 and 4-8-04:41, a perpetual preservation buffer shall be created. The buffer will include a minimum area of 300 acres along the rim of the Waipio Valley beginning from the public lookout to the mauka edge of the subject property and shall be conveyed to the State in fee and/or by conservation easement meeting with the approvSl of the Department of Land and Natural Resources (DLNR). Use within this area shall be consistent with DLNR rules and regulations for Conservation designated lands. No dwellings may be constructed within this preservation buffer. + Hamakua Sugar Company or its assignees agrees to contribute a pro -rate share of the land owned by it and required for a new road connecting Highway 19 with Highway 240. The road will be constructed to County standards based on a pro rata share by Hamakua or its assignees. Neither the State nor the County will be asked to expend any funds for the construction of the road. • Neither the State nor the County will be asked to expend any funds for infrastructure for land covered by the regional plan, and all infrastructure will be 4 paid for by HSC or purchasers of the land covered by the regional plan. The State and County will agree to maintain the present infrastructure requirements for all lands covered by the regional plan in accordance with existing laws, regulations, standards or requirements. • All Hamakua lands directly related to plantation operations and/or activities presently zoned Ag -40, will be rezoned (i.e., Ag -20,000a) so that the overall density will remain unchanged throughout the regional plan area. Hamakua Sugar Company and the Western Farm Credit Bank has developed an overall concept plan for the approximately 3,827 acres of former sugar cane land in Zone 3. The Rukuihaele Land Use Plan is consistent with the development parameters outlined in the Hamakua Regional Plan for this are. These development guideline are: Hamakua Makai Lands • Master planned mixed use development. • Residential, including visitor accommodations, village commercial and related uses. • Golf course and related facilities. • 500 total units allowable. 5 Hamakua Mauka Lands • Master planned agricultural/residential use. • 1,100 total units allowable. • Retreat resort: 100 total units allowable. • Golf course(s) and related facilities. • Mud Lane Connector Road Waipio Preservation Buffer • Approximately 300 acres with a 300 -foot setback. • Dedicated in fee and/or conservation easement to State government. * Preserve scenic and cultural integrity of Waipio Valley. • Passive public use. • New Hiilawe lookout. Kukuihaele Village • Special treatment area. • Preserve existing rural and design character. • Possible Waipio Interpretative Center. N The range of community impact/benefit will extend through the State, the County, the Hamakua region, and Rukuihaele town itself. First and foremost, government approval of the xukuihaele Land Use Plan would permit the sale of the Zone 3 HSC lands to close and significantly reduce the plantation's debt to it's major creditor. The Lone 3 lands represent approximately 2/3 or 661 of the total HSC sales program, and thus dramatically increase HSC's chances for economic survival. Central elements of the "with -project" future are: * Retention of approximately 750 plantation employee jobs; • Retention of approximately 450 plantation supported housing units; • Continuation of approximately 1,700 indirectly related jobs throughout the community and the State; • Diversification of the region's economic base; * Continued energy production; + Continuation of Hamakua's export earnings which helps to diversify and stimulate Hawaii's economy; and * Assurances that the remaining "core" plantation lands would be committee to large-scale agricultural production for the foreseeable future. 7 At both the State and County levels, the project is expected to generate revenues substantially greater than potential public costs. Furtehr, witht he continuation of HSC operations, the statewide sugar industry multiplier applied to HSC's average annual earnings of approximately $60+ million projects this component of community economic benefit at approximately $187 million to the Hawaiian economy. The major source of revenue to the County would be property taxes on the development site. The net balance of revenues over costs for the County, for cash flows over the initial 20 years of operations, is estimated to exceed $175 million. Revenues for the State would primarily come from construction and visitor spending. A cumulative positive balance of State revenues over costs after 20 years of operation is estimated at $85 million to $125 million. Regional impact mitigation improvements can be quantified in terms of anticipated exactions directly related to public service/infrastructure demands as follows: 1. State of Hawaii, Department of Education New elementary or intermediate school site in Honokaa 12 to 18 acres at $18,000/acre $2.16 - $3.21 million 2. County of Hawaii, Protective Services Facility Fire/Police Station in Honokaa 2 to 6 acres at $20,000/acre $36 to $108 thousand 8 3. Construction of connector roadway between State Highway at Kukuihaele to Belt Highway at Waimea Approximate distance: 7 miles Right of Way width: 120 feet $12 - $15 million 4. Affordable/Resort Employee Housing (Honokaa) Estimate unitss 200+ 70 acres at $20,000 $1.4 million 5. Construction of On-Site/Off-Site Project Infrastructure Construction of all interior project roadways; intersection improvements as required; development of a domestic water system including source development, transmission and storage facilities; two (2) wastewater treatment facilities; stormwater collection systems; electrical and telephone switching and substations with transmission facilities (lines, poles, etc.); and possible solid waste transfer station site. Approximate Values $80 million Regional public benefits directly related to recreation, open space, agricultural and historical/cultural preservation includes 1. Waipio Valley rim preservation buffer Conservation easement to DLNR; Optional wilderness trail system, rest stops, and re -forestation program Approximate Land Areas 362 acres Approximate Value: $24,000/acre (land improvements) $8.7 million 2. New Waipio Valley Lookout Proposed visitors center, access road, parking area, picnic pavilions, restroom facilities, landscaping Approximate Value: (improvements) $250,000 3. Public shoreline access improvements Approximate Distance: Approximate Value: parking and related 1.5 miles at 10' width (2 acres) $48,000 (land); $200,000 (improvements) 4. Core plantation downzoning approximately 12,000 acres of remaining core plantation land to be downzoned into one agricultural unit (Agricultural - 20,000A) Approximate Land Areas 12,000 acres Approximate Values $2,000/acre $24 million 5. Public Golf Play Public golf rates on designated course, access to facilities, participation in community golf related programs Approximate No. of Starting Times/Rounds: 30 rounds daily at $25.00/round Approximate Value: $711,750/annually In addition to the above stated regional public benefits derived through the implementation of the Kukuihaele land use plan, residents of the Kukuihaele community will be provided with the following additional community benefits. This package of specific benefits are intended to preserve Kukuihaele's identity as a residential plantation community. 1. County of Hawaii, Department of Parks and Recreation Expansion of Kukuihaele Park Approximate Land Areas 6.1 acres Approximate Value: $24,000/acre $146,400 2. Kukuihaele Last Chance Store/Camp 104/105 The land underlying the existing Last Chance Store and 11 residential occupants will be conveyed in fee at no cost; 1 resident in Camp 104 (mauka of road) will be conveyed a new lot makai of roadway. Approximate Land Area: 6 acres Approximate Values $24,000/acre $144,000 10 3. Kukuihaele Tiger Camp/Kona Camp 37 Garden plots adjoining existing residential plots to be conveyed in fee Approximate Land Areas 4 acres Approximate Values $24,000/acre $96,000 4. Kukuihaele Cemetery expansion (Japanese/Catholic Church/County). Set aside the existing Japanese cemetery and access road; provide expansion for County and Catholic Church cemeteries Approximate Land Areas 3 acres Approximate Values $241000/acre $72,000 5. Separate access to makai Kukuihaele project. To minimize potential traffic impacts and conflicts, a new primary access intersection to the makai project is proposed between Kona Capt and the existing access to Kukuihaele. Approximate Land Areas Approximate Values $24,000/acre (improvement/intersection) $1 million 6. Kukuihaele Real Property Tax Trust Fund. A proposed real property tax trust fund is being considered for Kukuihaele residents to provide additional tax relief beyond what is available in the existing real property tax system. 7. Interpretive/cultural center, plantation museum, community center Notes $24,000/acre value is the average price per acre of the Royal Coast/Waipio sales agreement. Significant public/community benefits will flow from the implementation of the Kukuihaele land use plan. As itemized above, these "with project" benefits will have County -wide, regional, and community specific implications, and represent a quantitative value of approximately $135 million. 11 The "without project" scenario would have significant socioeconomic ramifications, primarily because of the certain demise of Hamakua Sugar Company operations and the economic and social "snowballing" effect it would generate. These revenue lost, unemployment benefits paid, and energy production lost to the County. The quantitative economic effect of this scenario is conservatively estimated at almost $200 million annually. The overall socioeconomic benefit of preserving company operations combined with the aforementioned additional public benefits attributable to the "with project" scenario effectively result in a total public and community benefit figure of at least $335 million. 12 APPENDIX 2 PROPOSED TERM SHEET Real Property Tax Trust Fund November 25, 1991 This agreement, entered into this day °f , 1991, by and among Hamakua Sugar Company, Inc. (^Hamakua"), Western Farm Credit Bank ("WFCB"), and Royal Coast Waipio Corporation (•Royal Coast") agree to set up a Real Property Tax Trust Fund ("Fund") with the provisions set forth belows 1. The base year for real property taxes for every tax key covered by this Agreement and dedicated for non- speculative residential use in accordance with Section 5 shall be 1990-1991. 2. If the real property taxes for any tax key covered by this Agreement for any year exceed the tax for the base year, then the Fund will pay such excess for each tax key which is beneficiary of the Fund. Current and accrued interest shall be used first; thereafter principal shall be used. 3. All tax keys in the Kukuihaele Special Treatment Area which are exclusively used or zoned for single family residential purposes upon the effective date of Bill No. 515 or 516 will be beneficiaries of this Fund. For purposes of Fund administration, the boundaries of the "Kukuihaele Special Treatment Urea" shall be defined by the Hamakua Regional Plan, Kukuihaele - Waipio Zone 3 Map (November 21, 1990) and inclusive of all tax keys abutting the project areas between Camp 106 (Kona Camp) to the Waipio Lookout and identified by all tax keys listed in attached Exhibit "1". 4. The tax key will cease to be a beneficiary of the Fund if the owners of record upon the effective date of Bill No. 515 or 516 sell their land or if they both die. Proposed Term Sheet Real Property Tax Trust Fund November 25, 1991 Page 2 Camp 106 (Kona Camp) to the Waipio Lookout and identified by all tax keys listed in attached Exhibit "1". 4. The tax key will cease to be a beneficiary of the Fund if the owners of record upon the effective date of Bill No. 515 or 516 sell their land or if they both die. However, the owners may give their land to members of their family either by gift or by will and their family members will continue to be beneficiaries of the Fund unless they sell their land or die. The tax key shall also cease to be a beneficiary of the Fund if the zoning is changed to zoning other than agricultural or residential. 5. Each beneficiary shall file a Notice of Non - Speculative Residential Use in accordance with Article 7, Chapter 19, Section 19-58.1 (Certain Lands Dedicated to Non - Speculative Residential Use) of the Hawaii County Code or amendments thereto, and shall keep such dedication in full force and effect. Failure to do so shall render such beneficiary ineligible for the benefits of this Fund. 6. The Fund will be funded by allocating to the Fund a percentage of each initial retail sale of a single family lot or a condominium unit in the Waipio project. This percentage shall be 0.58 of the gross sales price. 7. within thirty (30) days of closing, Royal Coast shall provide an initial sum of $100,000 to the Fund. The principal of the Fund will be invested and interest will be added to the principal. The Fund principal shall be deposited Proposed Term Sheet Real Property Tax Trust Fund November 25, 1991 Page 3 in an interest bearing account meeting with the approval of Royal Coast and the County Department of Finance. The County Department of Finance shall be authorized to draw upon this account for the purposes of implementing Section 2 above. IN WITNESS WHEREOF, the parties hereto have set their hands on the day and year first above written. HAMAKUA SUGAR COMPANY, INC. By Its By Its WESTERN FARM CREDIT BANK By Its By Its ROYAL COAST WAIPIO CORPORATION By Its By APPENDIX 2 EXHIBIT 1 Kukuihaele Land Owners Tax Key Land Owner Acquired 4-8-01x04 HSCo. owns - leases por. to Florencio Visaya Box 5028 Kukuihaele x06 U.S. Dept. of Coggerce 1944 (Lighthouse) 4-8-04:05 Chiaki Matsuo 35 Holonua St. 1990 Hilo 96720 :06 Elwyn d Rose Rice 1973, Box 5004 Kukuihaele 96727 113 Roger Lasko Box 5039 1985 Kukuihaele 96727 :14 George d Matilda Farm 1985 Box 1189 Honokaa 96727 Prior to purchasing, they leased the property frog 1948 :15 Robert i Charlene Major new/not Box 16 Laupahoehoe 96764 listed :16 Clayton i Susan Schultz 1990 26236 Ingleside Way Malibu, CA 90265 :18 Kelly t Nora& Loo 1972 Box 5092 Kukuihaele 96727 119 Abraham i Poi -Eng Kanekoa 1979 1652 Hoohalia St. Pearl City 96782 4-8-04:20 Lane@ Okayama d Ramona Wong Box 6402 not listed Honolulu 96818 :21 Charles i Rachel Thomas Jolene Reucia 1972 Box 5057 Kukuihaele 96727 :23 Delbert i Torao Saito box 1304 1980 Honokaa 96727 :24 Edwin i Jolene Reucia Box 5057 1986 Kukuihaele 96727 :25 - :35 Chicki Matsuo 35 Holoaua St. 1990 Hilo 96720 4-8-06:11 Catholic Church :12 Catholic Church :15 G@orge Klika i Susan Price 10581 Cheviot Dr. il st listed ed Los Angelos, CA 90064 :16 West Hasakua Church 1954 15 Craigside P1. Honolulu 96817 :17 Catholic Church :18 Chiyoko i Kenneth Takaaoto 1958 Box 5084 Kukuihaele 96727 :19 Catholic Church 320 Yoshiko i Takeaori Ishiki 1956 Box 5038 Kukuihaele 96727 4-8-06:21 Alan d Maria Cater Bow 5090 new/not Honokaa 96727 not listed 122 Russell d Charlene Rodriquez not listed Box 985 Honokaa 96727 • Looks like they bought or inherited fro• a relative. 323 Juan/Elizabeth/Presley Millar@ 1963 Box 5009 Kukuihaele 96727 :24 Albert/Ernest/Fredrick Tanaka 1986 Box 5028 Kukuihaele 96727 • Looks like they bought or inherited from a relative =25 Roy i Yukiko Hiraoka 1956 Box 5114 Kukuihaele 96727 :26 Ernest i Charles Iwasaki 1981 Box 5008 Kukuihaele 96727 :27 John d Richard Seifert 1980 Box 2578 Kamuela 96743 128 Joseph i Harriet Batalona 1957 Box 5055 Kukuiha@le 96727 229 Phyllis Plunkett 1968 54282 Hauula Homestead Rd. Hauula 96717 :30 Ruby Robledo 1956 Box 5021 Kukuihaele 96727 4-8-06331 Noriyasu Matsummura Box 1577 1963 Honokaa 96727 332 Herbert Kadooka K. Trustee 2374 Ahakapu St. 1980 Pearl City 96782 :33 Donato i Dorotta Andres Box 5119 1961 Kukuihaele 96727 :34 Juan i Sophie Revilla Box 5068 1957 Kukuihaele 96727 :35 Toledo Family Trust Mary Jane Kamakawiwoole 1959 Fredrick Toledo Box 5096 Kukuihaele 96727 :36 Michie t Gary Takamoto Box 5106 1958 Kukuihatle 96727 :38 Florencio i Mikiyo Algre Box 5103 1958 Kukuihaele 96727 :41 Catholic Church :42 Paul i Eleanor Christensen Box 5100 1969 Kukuihaele 96727 :46 Stanley L Elaine Yamamoto Box 974 1978 Honokaa 96727 :47 Myron i Julie Kidani Box 5031 1978 Kukuihaele 96727 :48 Milton 6 Jo Ann Lau Kong Box 655 1978 Honokaa 96727 4-8-06:49 Ainslie d Anita Loo Box 754 1978 Honokaa 96727 :50 Ronald L Cynthia Kanekoa Box 5122 1978 Kukuihaele 96727 4-8-07:01 Antone Gabriel Estate Emma Hitchcock 1970 528 Kaulani Way Kailua 96734 :02 Thomas Lalakea 247 Dowsett Ave. 1963 Honolulu 96817 :04 Paahao Ako d Verna Mae Branco 1971 1650 Ainaola Dr. Hilo 96720 :05 Anton# Gabriel Estate William Mills 1970 183-B Paddon Pl. Marina CA 93933 =06 Sam, Ida i Annie Kane 1950 Lillian Kai Box 5056 Kukuthaele 96727 :07 Seiko Kaneshiro Box 5110 1975 Kukuthaele 96727 :08 Mae Gabriel, William Mills 1970 Emma Hitchcock 89-435 Pohakunui Ave. Waianae 96792 :09 Roy i Gladys Toko Box 5126 1957 Kukuihaele 96727 4-8-07:10 Thomas Lalakea 247 Dowsett Ave. 1963 Honolullu 96817 Mae Gabriel, William Mills 1970 Emma Hitchcock 89-435 Pohakunui Ave. Waianae 96792 :31 Dale 9 Christine Streisand 1961 ? Box 639 Honokaa 96727 s12 Sarah Petersen Box 5023 1985 Kukuihaele 96727 :13 Michael McLean i Norma Dimeo-McLean new/not 13001 Glenwood St. listed Studio City, CA 91604 :14 William Rogers 9 Diane Foley new/not 677 Portofino Lane listed Foster City, CA 94404 t16 James 9 Kristan Hunt 1980 Box 5104 Kukuihaele 96727 :17 Mae Gabriel, William Mae 1970 Emma Hitchcock 89-435 Pohakunui Ave. Waianae 96792 tl8 Sam, Ida, Annie Kane 1945 Lillian Kai, HSCo. Box 5056 Kukuthaele 96727 821 Sam, Ida, Annie Kane 1950 Lillian Kai, HSCo. Box 5056 Kukuihaele 96727 4-8-07:22 Sas, Ida, Annie Kane 1945 Lillian Kai, HSCo. Box 5056 Kukuihaele 96727 :23 Alan Kaaua, HSCo. 1944 Corrine Rabinsteiner Genevieve Bruss Box 371 Pahala 96777 :24 Sas, Ida, Annie Kane 1945 Lillian Kai, HSCo. Box 5056 Kukuihaele 96727 :25 Mae Gabriel, William Mills 1970 Emma Hitchcock 89-435 Pohakunui Ave. Waianae 96792 126 Alan Kaaua 1977 Box 371 Pahala 96777 :28 Mae Gabriel, Willia■ Mills 1970 Emma Hitchcock 89-435 Pohakunui Ave. Waianae 96792 :29 Naasan Toko 1986 Box 5064 Kukuihaele 96727 :31 Richard i Elise Mastronardo 1986 Box 2784 Kasuela 96743 Alan Shattuck Box 1635 Kasuela 96743 4-8-08x05 Thomas i Carolyn Lalakea 1974 247 Dowsett Ave. Honolulu 96817 :06 Alston i Shirley Toko new/not Box 5069 listed Kukuihaele 96727 4-8-08:07 Jeffrey Hoff 73 4226 Loloa Way new/not Kailua-Kona 96740 listed :08 Thomas i Carolyn Lalakea 1974 247 Dowsett Ave. Honolulu 96817 :09 Mae Gabriel 1970 89-435 Pohakunui Ave. Waianae 96792 :10 Samuel i Hazel Mock Chew 1969 Box 5129 Kukuihaele 96727 :12 Sam, Ida, Annie Kane 1950 Lillian Kai Box 5056 Kukuihaele 96727 :14 William Kaneko& 1962 Box 5089 Kukuihaele 96727 :15 Benjamin L Dorothy Badua 1974 Box 5109 Kukuihaele 96727 :16 Wahinemaikai Kane 1945 Robert Toko C/O Pamela Mathieu Box 1216 Honokaa 96727 :17 E&ma Hitchcock 1970 528 Kaulani Way Kailua 96734 :18 Kenso Takamoto 1952 Box 5123 Kukuihaele 96727 :20 Rudolph i Brenda Angelo 1984 Box 679 Honokaa 96727 4-8-08:21 Thomas 6 Carolyn Lalakea 1974 247 Dowsett Ave. Honolulu 96817 :22 Benjamin d Dorothy Badua 1974 Box 5109 Kukuihaele 96727 :24 Theodore d Nellie Angelo 1963 Box 5005 Kukuihaele 96727 :25 William Kanekoa 1962 Box 5089 Kukuihaele 96727 :27 Delbert i Tarao Saito 1984 Box 1304 Honokaa 96727 :28 Rudolph d Brenda Angelo 1984 Box 679 Honokaa 96727 :30 Sam, Ida, Annie Kane 1982 Lillian Kai Box 5056 Kukuihaele 96727 :31 Augusto i Cecilia Gancinia 1986 Box 1007 Honokaa 96727 :32 Dannie i Delores Coates 1985 Box 5099 Honokaa 96727 4-8-09:01 Eeilo i Bebe Ponce 1986 Box 425 Honokaa 96727 302 Bonifacio i Eufemia Collado 1975 Box 5047 Honokaa 96727 4-8-9:03 Anacleto, Shirlanng Peterson i Bernadine Nuniez 1982 Box 1303 Honokaa 96727 :04 Peter Sau i Beverly Youn !ag Sr. 1973 Box 755 Honokaa 96727 :05 Rumualdo d Fannie Duldulao 1960 Box 348 Honokaa 96727 :06 Kenneth i Dawn Rillanos 1987 Box 548 Honokaa 96727 :07 Hidemi 3 Doris Miyasaki Box 5037 new/not Honokaa 96727 (pensioner) listed :08 Clito d Nena Guzman Box 5121 1977 Kukuihaele 96727 709 Dennis d Darlene Ganiyan 1973 Box 5132 Kukuihaele 96727 :10 Toshiko Sasaki Box 5112 1963 Kukuihaele 96727 :11 Clarence d Joanne Nakamura 1980 Box 5079 Kukuihaele 96727 :12 Moses i Mary Kunishipe 1985 Box 780 Honokaa 96727 4-8-09:13 Noriyasu Matsumura Trust 1982 Box 1577 Honokaa 96727 :14 Lawrence d Katerine Fujioka 1960 Box 5107 Kukuihaele 96727 :15 Yuban i Mo@oyo Maehira 1960 Box 5074 Kukuihaele 96727 :16 Benjamin 6 Esther Visaya 1960 85-175 Farrington Hwy A-218 Waianae 96792 :17 Paulino 6 Ida Malacas 1960 Box 5051 Kukuihaele 96727 :18 Estanislao d Mamerta Tejero 1971 Box 5075 Kukuihaele 96727 :19 Pelajio d Belaine Cadiz 1962 Box 5006 Kukuihaele 96727 :20 Alfredo d Alice Millare 1960 Box 5072 Kukuihaele 96727 :21 Herbert i Mao@ Fujii 1960 Box 5059 Kukuihaele 96727 :22 Morio i Hideko Takao 1984 Box 5087 Kukuihaele 96727 ' 4 RECE. VE0 J � i f 5 ISS, APPENDIX 3 Hamakua Sugar Company, Inc. ;;0 �a;;�;,;;w•1196::• r.i iu: coon M12M October 14, 1991 Mr. Russell S. Kokubun, Councilman Mr. Takashi Domingo, Councilman County of Hawaii Hawaii County Building 25 Aupuni Street Hilo, Hawaii 96720 Gentlemen: Thank you for your letter dated August 27, 1991 concerning our mutual efforts to finalize various understandings which will facilitate expeditious approval of our requested land use changes. These approvals are essential to the successful consummation of our land sales program, which in turn, are essential to our effort to eliminate our debt to the Western Farm Credit Bank (WFCB), thereby securing the long term future of our sugar operation. We note that you acknowledge the three numbered assurances that appear on page 1 and the top of page 2 of your letter. We confirm that the first two of these assurances are included in the most recent Forebearance Agreement between Hamakua Sugar Company, Inc. (HSC) and its lenders and that the WFCB has committed to the third assurance in letters to HCS. We have accepted and acknowledged these conditions and will implement the actions which are required. In addition to the above, your letter requested certain additional assurances to address the following needs: (1) to protect the entire spectrum of employee housing needs if HSC closes down, goes.into bankruptcy, or is foreclosed upon; (2) to expand employee housing opportunities; and (3) to relieve the potential increase of real property tax for the long-time residents of Kukuihaele. These additional assurances have been reviewed and discussed with WFCB and we have now received a letter from them setting forth the extent they are willing to go in providing for them. We quote from the WFCB letter as follows: "1. If HSC closes down operation, or goes into bankruptcy, WFCB will agree to assist in providing supervisory employees of HSC with a right of first refusal to purchase their plantation residences at the then fair market value, provided they are residing in their residence at that time. In the unlikely event HSC is foreclosed upon, WFCB will offer the supervisory employees of HSC the same right of refusal. 2. WFCB and HSC are currently in negotiations with various parties to assure that affordable housing is available to such employees. In fact, the proposed sales contract for the sale of the Paauilo Subdivision requires the buyer to set aside 100 lots of subsidized prices. In addition, WFCB and HSC are currently exploring the possibility of providing Russell S. Kokubun, Councilman Takashi Domingo, Councilman October 14, 1991 Page 2 additional lots at Honokaa at affordable prices. If WFCB and HSC can agree upon the best means to satisfy employee housing needs, WFCB will agree to execute and l agreedlace iupon nto ehousing sites. The rescroweinstructionstwould generally provide that, upon receipt of final subdivision approval for such sites, the deeds and partial releases would be delivered to either a nonprofit corporation, in the event Hamakua closes down operations, goes into bankruptcy, or is foreclosed upon, or to HSC if all the debt owing to WFCB was paid off. This is similar to assurances previously given regarding plantation employee and pensioner housing sites. 11 3. As you are aware, WFCB and HSC have developed a plan to ensure that long-time residents and HSC pensioners of Kukuihaele will be protected against speculative real property tax increases for a reasonable period of time. WFCB will a&ree to assist HSC in implementing this plan when it is finalized." NSC is in full agreement with item 1 above and will cooperate with WFCB to implement this commitment in the event that it closes down operations or becomes bankrupt. With regard to the second paragraph of item 2, we support the underlying objective of providing an opportunity for any of these employees, who are laid off because HSC closes its operations to purchase a house lot, either directly or through a non-profit corporation, at affordable prices provided they demonstrate their intention to build a home on the lot and use it as their primary residence. We are prepared to work out a procedure to accomplish this purpose which will be fair and reasonable to all concerned. With regard to the third paragraph, we are supportive of this effort and will cooperate with WFCB and the purchaser of the property provided that it does not result in financial or economic contributions by HSC in addition to those already committed to. We are mof your oour stent to has been extremely helpful in accomplishing the significant progress that has been made to date. In return the owners and management of HSC are committed to the continuation of the Company's sugar operation for the long term in order to preserve the jobs, lifestyle and economic base for its employees and the entire Hamakua area. We are convinced that, with the total retirement of the Company's debt to Russell S. Kokubun, Councilman Takashi Domingo, Councilman October 14, 1991 Page 3 WFCB and the resulting elimination of the related interest payments, and with a six week offseason for factory repair, which is presently scheduled for next March and the first half of April, the sugar operation can sustain itself. worn ousincludes annual tandobsoleteequipmeaital e ntofabouti$4r000 OOOtues for ewhich willlacement becovered byp depreciation plus future off seasons regqwiring appproximately business0andnarelforecastedntogberofits adequateltobe refinanceetwodn the projects both of which will provide exceptional returns on investment and will increase profits significantly. The first of these is expected to be implemented as soon as our debt to the WFCB is paid oif and involves the installation of two types of equipment in the boiling house of our factory to increase the recovery of sugar from molasses. This project was originally a part of our factory expansion plan when we consolidated the Haina and Ookala factories, but it was delayed due to the shortage of funds. The second project has two phases, the first of which will probably start being implemented in 1993. The result of these projects will be to significantly improve the efficiency of our power generating facilities which will enable a substantial increase in the exportable amount of electric power for sale to the Hawaii Electric Light Company (HELCO) grid by capturing more of the btu value of the bagasse fuel which is presently available. This project is readipowerlsalesancible agreementtwithlHELCOuire an and possiblysion someof our amendmentsttocit. For the longer term future, but within the next three to five years, there is a very high probability that new technologies which are now being finalized and refined will make it possible to produce high value products from our present low value by-products of bagasse and molasses. This has the potential to diversify and broaden our income base to be less dependent on the sales of sugar for human consumption as a sweetener. Indications are that the value of these new products could equal or exceed that of sugar while the incremental cost of producing them would be minimal since the cost of growing, harvesting, transporting and initial processing of cane is already covered. These developments could revolutionize the sugar industry and make it a very profitable activity. HSC is fully commited to maintaining itself during this difficult period so that it, its employees and Russell S. Kokubun, Councilman Takashi Doming, Councilman October 14, 1991 Page 4 the population of the surrounding community can reap the benefits that the future holds while maintaining the agricultural land use and lifestyle for the vast majority of this area. We deeply appreciate your past support and look forward to continuing mutual cooperation for the successful conclusion of this effort which will solidify the long term future for this area in a manner which coincides with the desires of the vast majority of its population. Sincerely, HAMAKUA SUGAR COMPANY, INC. 0/'�;�.�YLz1J lit Francis S. Morgan, Pr€silent and Chief Executive Officer FSM: ffh CC: Tim Hay Olen Zirkle James Case David Morgan Duane Kanuha ir Hamakua Sugar Company Inc 770 / Pseudo, Hewed 96776 f.anti, S. Mogen Teleohoew: 18081 776.1511 ►rte.Een1 Chef Executive officer Few! 18061 776 1250 July 17, 1991 The Honorable Lorraine R. Inouye Mayor, County of Hawaii 25 Aupuni St.= Room 3213 Hilo, Hawaii 96720 Dear Mayor Inouye: Enclosed, herewith, is a copy of a letter dated July 17, 1991, addressed to me from Western Farm Credit Bank. It is my understanding that this letter together with the letter addressed to you from Western Farm Credit Bank dated July 17, 1991, (copy of which is attached for your information) conform with the understanding of all parties. I have, therefore, signed the letter to me, accepting it on behalf of Hamakua Sugar Company, Inc. We trust that both letters from Western Farm Credit Bank satisfy the requirements of the County Administration and that you will now undertake to implement the conditions stated in paragraphs "A, B and C" on page two of the letter addressed to me. We would appreciate your acknowledging receipt of this letter and also advising us that the above meets your satisfaction. Very truly yours, HAMAKUA SUGAR COMPANY, INC. %��Francis S. Morgan, P sident and Chief Executive Officer FSM: ffh encls. CC: B.T.Mizuno J.H.Case T.B.Hay R.Kokuyon T.Domingo D.Takamine Western Farm Credit Bank July 17, 1991 Francis S. Morgan President & Cblef &ecutive Officer Hamakua Sugar Co., Inc. P.O. Box 250 Paaullo. Hawaii 96766 Re: General Plan Amendments Dear Mr. Morgan: We are In recdpt of a copy of Mayor Lorrnlne R Ino letter addressed toyou and have discussed its con m Jaes H. Case and our Board of Directors. The Mayor's letter requested that WFCB provide cez has responded opthose th bregGuests as disclosed in the discussed In to attached letter. WFCB gives the fol 1 dOBf t�h fa atroance extend to existing Dece open escrows to clone. FV'rther Vt FCB unea additional forbearance beyond June 30, 199 lands to be sold If the present buybeere fail to consideration ddle oeo`naaltl»eomust be subrnitted on o forbearance. i 2. WFCB will agree to imm deed and partial release ka..atnd aft" e.sd tl&o w homes). The escrow Insi of Mal subdivision appr and partial release woul! !ss Aror,r AA.0 P.O. Im 131J1 lw InVIC. COOMW i1146M July 1. 1991 with you and isurances In ith. WFCB ed letter. As assurances: ler 31, 1991, due 1992, to perrWt !e to consider !o permit subject ._ request for April 30. 1992. execute and lace Into escrow !& tntation em p yee and pensione lu++d (cAJUFV ve of vupennunpe would prowl a that upon rec�lp be County to these sites the de or Comparable entll�yy in the event Hamakuti S "64 Ca"("Flamal*ua" ar cloaca down operatfone, went into bankrupt . or was orecloe d upon; or, (2) to Hamakua if all debt owing to a was paid off. In essence, we are not op osed to your prof o al having to do th employea and pensioner 1%using. Obvtously, stage reg in speciSc sites and the underlylnj an H W ed to be work out and agreed upon between WWlF''CC pprior to the application& for the subdivisions. We would the unreasonable In this regard. nr %" a«+ SM&N Granas s. Morgan July 17, 1991 Page 2 9. In the event the revenue horn the sale of the ccse land fella short of retiring the loans to the Farm Credit Syste ,the core plantation lands would not be liquidated indiscrtminat These assurances are given with the followln Conditions: A. The County Administration will work d genu and use Its best efforts to provide the entitlements sted � the Harnakua Rnal Plan. B. The County Administration will Immed tely initiate an action to amend the General Plan to co orm to the Hamakua Regional Plan. C. 7be County staff will work diligently to eet the deadlines LImposed bk all the e�dsting sales contr is for the for Sale We trust the foregoing is saUsfactory to Hamakua d the Mayor, and we look forward to moving quickly on this matter. It is our underetanding that the Mayors 011lce is agreeable to the foregoing d will be issuing a letter conArming their position once Hamakua afire s to the contents of this letter. If Hamakua is agreeable to the plan aeUons and as antes set forth in this letter, please execute and date the attached co of this Ietter, and return It to me as soon as Doamble_ Sincerely, Vice Presid ed / TMB:pkh I On behalf of Hamakua Sugar Company and in my dividual cappael J hereby agree to the actions to be taken by the Coun and WFCB as et forth above, to the assurances set forth above, and and the requirements of same. July 17, 1991 rr Date Francis S.or an President & C of uttve Oiil er Hamakua Sug Co.. Inc. July 17, 16 91 Page 9 cc: Honorable Lorraine R Inouye, Mayor Barry T. Mizuno, Managing Director James H. Case, Esq Councilman Russell Kokubun Councilman Tadashi Domingo Representative D�ht Takamine Harold Yukio Kltlgawa-Do, b tor. D of PI pertma ent g of Members oof Crediton Committee Gilbert D. Butson, Esq, illi*ereu Tii,t• Dr,w tie61 Western Farm Credit Bank L:n 1t• ' �Vo.:8Han 35BLKt15 1:61 6X0 July 17, 1991 The Honorable Lorraine R. Inouye Mayor, County of Hawaii 25 Aupuni Street, Room 3213 Hilo, Hawaii 96720 Re: Hamakua Sugar Company, Inc, Dear Mayor Inouye: We are In receipt of a copy of your July 1. 1991 letter addres ed to ournBo door Directors. This l tier discussedIts supersedes ur letter of gan and July 3. 1991 and July 15, 1991. Inyour letter you have requested t1lat WFCB provide certain so thatyou may proceed with the General plan Amendment, With this 1s mind, WFCB gives the following assurances: 1. WFCB will agree to extend the existing December 31, 1 date of the forbearance agreements to June 30, 1992, 1 open escrows to close. Further, IVFCB will agree to coy additional forbearance beyond June 30, 1992, to perml lands to be sold if the present buyers fall to perform. I� consideration bele bmitted n or before Ami- l 3 2. WFCB will agree to imme deed and Dartlal release housing sites and the un of Anal subdivision apprc and or compparrab a entittyreleasewyln t1 closed down operations. I upon, or, (2) to Hamakua In essence. we are not opJ empl0 ee and pensioner 1' spec c sites on the and and pplications for the between in this regard, ately execute and place Into all Plantation employee and •l g land (exclusive of sup I by the would provide or these of delivered to (1) a nonprofl event Hamakua Sugar Co, it Into bankzvptcy. or was all debt owing to WFCB as ted to your proposal havin )pp1, due [Ger Subject Pr 1992. crow a nsl0ner ntendent i receipt the deed rporatior unakual closed Lid off. do with ina would need to be rkea out •nd Hamakua prior t e we would not be unreasonablo 3. In the event the revenue from the sale of the excess of retiring the loans to the Farm Credit System, the lands would not be liquidated indiscriminately. TM lam G644 Sgtrm falls short plantation Inc honorable Lorraine R. Inouye July 17, 1991 Page 2 These assurances are given with the following undere ding: A. The County Administradon. will work diligentl d use fie best efforts to provide the entitlements lleted >Yn e Hamakua Regfonal Plan. B. The County Administration will Immediately inf Le an action to amend the General Plan to conform to e liamakua Regional Plan. i C. The County staff will work diligently to meet the eadltr Imposed by all the Wsting sales contracts for th ' "For Unfortunately, our Board of Directors Js not in a position to I gree to any release of collateral unless the fair market value of the pprole do 1s applied to the existing loans. Further, our regulator, Tfte F Credit Administration, would view your proposal, to release collater as entitlements are received, as an unsaed on fe and unsound lendte racttcpe that the which assurances it h s given meet your rrequiirements fn t of the 1s hopeful following; First, the "For Sale Lands" would be liquidated before any de aeon will be made on the core plantation and if the sae of excess lands f s to repay another lender, to sell all we n equity encourage the plantatito on o to with *sell the plantation as an operating unit. Second, the forbearance agreements provide for the release o our claim on the remaining plantation assets after all debt has been re aid. Further, it provides for orderly liquidation of assets, and not forced sale. Third, theAg g oan large 20,000 -acre Zoning (plan fraction) limits the s e of the core ]ants on property for anything than scale a cultural use for at least a five-year period. Fourth, the borrower's rights provisions of the Farm Credtt A tlgJve ippiaaanmakua Sugar Company the right of first refusal for any eo Hamakua prrootec on of theme unity interest In the =ooh. 7hf le not available from any other lender. equity p party It is WFCB's opinion that the Plan offers the best means, at point, to preserve the plantation and retire Flamakua's debts. We trust the foregoing is satisfactory to your needs, and we to forward f moving quickly on this matter. You may be interested to w that as es this date, 05.4Hamn a's land sale efforts have resulted m 650 'acres in escrow for 8105.4 million, 248 acres pending escrow for t1ti9.1 Mon. The Honorable Lorraine R. Inouye July 17, 1991 Page 9 and 2800 acres being neggotiated for sale In the approximate ount of $16.0suMci �o meAccording t the in tent f the Plan. actions taken on ur part are Sincerely, TMH:pkh / CC: Barry T. Mizuno, Managing Director Norrhan aMtaDrhoMihel J.asukwa. Planning Counsel Brian Francis S. Morgan. Hamakue Sugs Company James H. Case, Esq. Councilman Russell Kokubun Councilman Tadashi Domingo Representative Dwight Takamine Harold Masumoto, Director of Planning Yukio Kitigawa, Director, Department of Agriculture Russell Botelho Members of Creditors Committee Gilbert D. Hutson, Esq.